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AUDUSD PArity??

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$EURUSD break south -

FOMC caused a spike up yesterday but we have topped out with a lower high indicating the downward move is still intact.  Currently approaching the critical area.  A break of the trendline to the south keeps the downtrend intact and we will look for an initital move to the S3 @ 1.3870 with a further target @ 1.3781.  Upside risk is a move to the top again.

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$GBPUSD break south -


Cable has broken out of the trendline to the downside  - Should hit the .382 fib soon. The .500 fib retracement is the target after that with the S5 in confluence.

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What ProAct Traders sees in the Forex starting the week of Oct 10th, 2010 –

$EURUSD

WHAT ProAct Traders SEE:  A couple of totally different scenarios- so wait and see which develops:

1)      A potential head and shoulder is forming.  Watch for the break of the neckline to confirm. Targets at 1.3637

2)      Cross is working inside a channel that is bullish.  Key support  areas are 1.3796 Target at 1.4254

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$AUDUSD break north -

$AUDUSD break north -

Ausssie broke out of the pullback trendline  - Should do a double top at the R5(0.9917) with a nice 4.236 fib extension target at 0.9963.  Close to parity!

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$EURUSD bounce? -

$EURUSD bounce? -

Euro took out the .618 Fib retacement from the Day chart- also the R5 of the last leg and a strong reaction there.  Looking for the test of the  1.3000 area (trend line) where a bounce could occur.   Further targets down are the .500 fibo @ 1.3840.  Target up on the bounce is the double top and then the .270 fib extension above 1.4100.

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$AUDUSD

We are within 100 pips of the 0.9847 top set in July 2008. This is also the confluence of the .618 fib extension as well. Will

see if the cross will take it out.  Buying on dips

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